If Your House Is Repossessed Do You Get An Equity . Everything You Need Know About Buying a Repossessed House So, in other words, if you were to sell the home today, you would make $50,000 back Do understand that foreclosure houses tend to sell at an extreme discount, so the potential for losing a large chunk of equity is very high in that.
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If you are in arrears, if you haven't settled all you owe within 80-190 days your lender can legally apply for an 'order for possession' What happens after your house is repossessed: Outstanding debts
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